The risks in the financial system have increased

A big part of our journey to raise rates has been done. • But there is still some way to go. He's offering a timely reminder for markets not to get too carried away even with lower headline annual inflation readings this week, and perhaps a slightly lower core annual inflation reading for the Eurozone later today. tweet at 3:17am: ECB’s De Guindos: 25 Bps Rate Hikes Are The 'New Norm'

Euro area annual inflation is expected to be 6.1% in May 2023, down from 7.0% in April according to a flash estimate from Eurostat, the statistical office of the European Union. ...

Hanover is a city of great significance. Ludwig Erhard once described it as the emblem of German ambition and vitality. And, over the years, Hanover has been justifiably proud of its role in Germany’s industrial development. Nowhere is this more obvious than at the Hannover Messe. Since inception in 1947, Hannover Messe has showcased the passion and economic potential of German workers and entrepreneurs to the world. The fair has become a symbol of the German Wirtschaftswunder, intimately linked to post-war German reconstruction and the subsequent economic and industrial success. Success in which the German savings banks have played a pivotal role. With a history spanning 200 years, you have consistently served as a reliable financial partner, supporting and promoting the German industry through crises and transformation. It is no wonder t tweet at 5:33am: ECB'S PRESIDENT LAGARDE: WE STILL HAVE GROUND TO COVER ON RATES. tweet at 5:32am: ECB'S PRESIDENT LAGARDE: INFLATION IS TOO HIGH AND IT IS SET TO REMAIN SO FOR TOO LONG. tweet at 5:33am: ECB'S LAGARDE: WE NEED TO CONTINUE OUR HIKING CYCLE UNTIL WE ARE SUFFICIENTLY CONFIDENT THAT INFLATION IS ON TRACK TO RETURN TO OUR TARGET IN A TIMELY MANNER.